NEARLY TOO LATE
SHAREHOLDERS’ RIGHTS NEW MELBOURNE ISSUE PERMISSION DELAYED (By Telegraph.—Press Association) AUCKLAND, Friday In response to representations made direct to the Herald and Weekly Times, Melbourne, by the Auckland Stock Exchange, that company has agreed to extend the date by which New Zealand holders of shares can lodge applications for or renunciation of rights. Recently this Melbourne company issued new shares, under which shareholders were given the right to take up the new issue in proportion of one share for four of the old shares already held. It was with dealings in these rights that the Auckland Stock Exchange was concerned. Permission had not been received in Auckland from the Reserve Bank of New Zealand to deal in those overseas securities until it was nearly too late to reach the Melbourne market by the closing date, August 16. Had nothing been done the Auckland shareholders would have lost all their rights under the new share issue.
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https://paperspast.natlib.govt.nz/newspapers/WT19400809.2.30
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Waikato Times, Volume 127, Issue 21187, 9 August 1940, Page 4
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158NEARLY TOO LATE Waikato Times, Volume 127, Issue 21187, 9 August 1940, Page 4
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